UK-Africa Investment Summit
This year's UK-Africa Investment Summit, which started Monday 20th January 2020, is a first of its kind hosted by Britain's newly elected government. The opening ceremony witnessed by dignitaries and delegates from 16 African countries includes British Prime Minister, Boris Johnson, Foreign Secretary Dominic Raab, and Prince Harry, among others.
Prime Minister, Boris Johnson, UK; several African presidents
The British Prime Minister, in his opening address, called for an increased renewed partnership between the UK and Africa. He referred to Africa as a booming continent with staggering levels of growth. Prime Minister Johnson said, "look around the world today, and you will swiftly see that the UK is not only the obvious partner of choice, we're also very much the partner of today, of tomorrow, and decades to come."
African Development Bank President, Akinwumi Adesina made a public announcement at the gathering of a new $80 million World Bank, and DFID infrastructure financing partnership. According to Adesina, the continent's $68-$108 billion infrastructure investment gap per year is massive, but it depends on how one looks at it. The 'risks' in Africa exaggerated. It is lower than in Latin America. Yet funds are not channeled into Africa. There are $8 trillion of assets under management in London, but only 1 percent invested in Africa.
A press release issued by the African Development Bank noted that the Bank President urged investors to look to Africa and recalled the achievements of the Africa Investment Forum ...a game-changing initiative led by the African Development Bank, and key partners, to accelerate investment in the continent.
The unique multi-sector platform designed to advance bank deals to financial closure. At the 2019 Forum in Johannesburg, South Africa, deals valued $40.1 billion secured investment interest.
President Kenyatta rang the opening bell at the London Stock Exchange (LSE) to mark the launch of Kenya's first green bond at the LSE. Emphasized innovative sustainable investments in energy infrastructure. We all must think out of the box in terms of energy to ensure we produce more green energy. 'This first-ever sovereign green bond of $41.45 million will be used to build environmentally-friendly student accommodation in Kenya.'
The President of Ghana, Nana Akufo Addo, of Kenya, Uhuru Kenyatta, of Mauritania, Mohamed Ould Cheikh el Ghazouani, African Development Bank President Akinwumi Adesina, and Secretary of State for International Development, MP Alok Sharma, addressed a plenary panel discussion on "Sustainable Finance and Infrastructure' Unlocking the City of London and UK financial services for growth in Africa.
About the African Development Bank Group:
The African Development Bank Group (AfDB) (https://www.AfDB.org/) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.
The Duke and Duchess of Cambridge hosted a reception for the UK-African Investment Summit on behalf of The Queen.
LONDON, ENGLAND - JANUARY 20, 2020: Photo by Yui Mok - WPA Pool/Getty Images
(Back row/left) Acting Minister for Foreign Affairs Tunisia, Sabri Bachtobji, Minister of Economy and Industry for Mauritius Sheikh El Kebir Moulaye Taher, Deputy Prime Minister of Ethiopia Demeke Mekonen Hassen, Minister of State for Economic Development in Angola Manuel Nunes Junior, Minister of Finance in Algeria Abderrahmane Raouya, President of World Bank David R Malpass, UN Economic Commission for Africa Executive Secretary Vera Songwe, IMF Director African Department Abebe Aemro Selassie, European Bank for Reconstruction and Development President Suma Chakrabati, African Union Chairperson Moussa Faki Mahamat, African Development Bank President Akinwumi Ayodesji Adesina,
(Middle row/left) President of Uganda Yoweri Kaguta Museveni, President of Sierra Leone Julius Maada Bio, President of Senegal Macky Sall, President of Rwanda Paul Kagame, Foreign Minister of Nigeria Geoffrey Onyeama, President of Mozambique Filipe Nyusi, Prime Minister of Morocco Saad Dine El Otmani, Prime Minister of Mauritius Pravind Kumar Jugnauth, President of Malawi Peter Mutharika, President of Kenya Uhuru Muigai Kenyatta, South Africa Foreign Minister Grace Naledi Mandisa Pandor,
(Front row/left) President of Guinea Alpha Conde, Sophie, Countess of Wessex, Prince Edward, Earl of Wessex, President of Ghana Nana Addo Dankwa Akufo-Addo, Catherine, Duchess of Cambridge, Prince William, Duke of Cambridge, UK Prime Minister Boris Johnson, President of Egypt Abdel Fattah Al Sisi, Princess Anne, Princess Royal, President of Democratic Republic of the Congo Felix Tshisekedi Tshilombo and President of Cote d'Ivoire Alassane Ouattara pose for a group photograph during a reception to mark the UK-Africa Investment Summit at Buckingham Palace on January 20, 2020, in London, England.